we are a couple who intend to purchase a 1 bedroom apartment in Petersham with a homeloan from Bank of Ireland.We like our Petersham conveyancing practitioner but Bank of Ireland advised that he's not listed on their approved list of member firms. We have to appoint a Bank of Ireland panel solicitor or keep our local solicitor and fork out for a Bank of Ireland panel lawyer to act for them. This seems very unfair; Can we not simply insist that Bank of Ireland use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its various provisions, one of which will be that lawyers needs to be on the Bank of Ireland solicitor panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Bank of Ireland
Will our lawyer be asking questions concerning flooding as part of the conveyancing in Petersham.
Flooding is a growing risk for lawyers carrying out conveyancing in Petersham. Plenty of people will acquire a house in Petersham, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a numerous checks that may be initiated by the purchaser or on a buyer’s behalf which can give them a better appreciation of the risks in Petersham. The conventional set of property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to discover whether the property has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a purchaser could bring a legal claim for losses resulting from an misleading answer. The buyer’s lawyers may also conduct an enviro search. This should indicate if there is any known flood risk. If so, further inquiries will need to be carried out.
How does conveyancing in Petersham differ for new build properties?
Most buyers of new build property in Petersham approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Petersham tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Petersham or who has acted in the same development.
I'm refinancing my primary property to a BTL mortgage with Leeds Building Society and I will use the ballance of the raised equity as a down payment on a second property. The location we are talking about is Petersham. Will your conveyancers be able to act for the two mortgage companies and link together the transactions?
Make use of our comparison tool on this site to ensure that the lawyers are on the relevant lender panels. Having checked that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you lawyer and make clear your desired outcome and needs.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Petersham. I happened to land on a site which looks to be the perfect answer If it is possible to get all the legals done via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My partner and I may need to let out our Petersham garden flat temporarily due to a career opportunity. We used a Petersham conveyancing practice in 2002 but they have since shut and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Petersham do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am the leaseholder of a ground floor flat in Petersham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Petersham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Petersham residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired lease term was 60.45 years.